Russia’s GDP likely to increase in ’24 – Novak

The Russian Economic Development Ministry may raise its GDP growth forecast for 2024, according to Russian Deputy Prime Minister Alexander Novak.

In an interview with TASS Director General Andrey Kondrashov at the Caucasus Investment Forum, Novak stated that the ministry is currently assessing the economic outlook for the year and expects to clarify projection data by September.

“If current trends remain, the growth will be higher than forecasted,” Novak said.

The ministry is reviewing data from the first six months of the year to make this determination. In April, the ministry had already increased its GDP growth forecast from 2.3 per cent to 2.8 per cent.

The Caucasus Investment Forum, held in Grozny, Chechen Republic, from July 15 to 17, features over 60 events, including lectures and workshops.

Attribution: TASS.